US Bancorp DE lessened its stake in shares of Signature Bank (NASDAQ:SBNY) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,396 shares of the bank’s stock after selling 14,866 shares during the quarter. US Bancorp DE’s holdings in Signature Bank were worth $2,114,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Harding Loevner LP boosted its position in Signature Bank by 138.0% during the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock valued at $94,865,000 after acquiring an additional 1,045,206 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Signature Bank by 44.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after purchasing an additional 437,670 shares in the last quarter. Parnassus Investments CA acquired a new stake in shares of Signature Bank in the 3rd quarter worth $167,732,000. Wedge Capital Management L L P NC boosted its position in shares of Signature Bank by 0.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 796,843 shares of the bank’s stock worth $109,375,000 after purchasing an additional 5,049 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Signature Bank by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 685,415 shares of the bank’s stock worth $87,760,000 after purchasing an additional 35,463 shares in the last quarter. 94.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Signature Bank (SBNY) opened at $154.79 on Friday. Signature Bank has a 52-week low of $116.68 and a 52-week high of $163.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.97. The company has a market capitalization of $8,494.26, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.
Signature Bank (NASDAQ:SBNY) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.20. Signature Bank had a return on equity of 12.72% and a net margin of 25.71%. The company had revenue of $328.27 million during the quarter, compared to analysts’ expectations of $321.86 million. During the same quarter in the previous year, the firm posted $2.11 EPS. equities analysts forecast that Signature Bank will post 11.13 earnings per share for the current year.
A number of research firms have recently weighed in on SBNY. Barclays raised their price objective on Signature Bank from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co reissued an “outperform” rating and issued a $150.00 price objective (up previously from $137.00) on shares of Signature Bank in a research report on Tuesday, January 9th. JMP Securities began coverage on Signature Bank in a research report on Monday, November 20th. They issued an “outperform” rating and a $160.00 price objective for the company. Morgan Stanley cut Signature Bank from an “overweight” rating to an “equal weight” rating and set a $150.00 price objective for the company. in a research report on Monday, November 6th. Finally, Jefferies Group reissued a “buy” rating and issued a $155.00 price objective on shares of Signature Bank in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $158.56.
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Signature Bank Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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